Nikkei drops 1.7% as Middle East tensions boost oil prices
It was on track for a second straight weekly decline
Add BT as a preferred source
[TOKYO] Japan’s Nikkei share average fell nearly 2 per cent on Friday as an escalating Middle East conflict drove crude oil prices higher, heightening inflation concerns and prompting investors to shun riskier assets.
The Nikkei was down 1.7 per cent at 53,502.50, as of 0010 GMT, on track for a second consecutive weekly decline. The broader Topix slid 1.2 per cent to 3,607.26.
Iran’s new Supreme Leader Mojtaba Khamenei said Iran will fight on and keep the Strait of Hormuz shut as leverage against the US and Israel, while Iran stepped up attacks on oil and transport facilities across the Middle East.
There were 7 advancers on the Nikkei index against 115 decliners.
Shares of Honda Motor tanked 6.1 per cent to their biggest percentage drop since February 2025, after Japan’s second-largest automaker said it would slip to its first annual loss in almost 70 years as a listed company over massive restructuring costs at its EV business. REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Is it time to scrap COE categories for cars?
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
As more Asean states turn to Russia for fuel, will Moscow boost its influence in the region?
